Are you sure it’s not because you’ve manually paid it by card and not left it long enough to automatically collect?
Yeah I’ve left it for several months before, it just doesn’t get collected. I get an email each month saying the PayPal credit payment is scheduled. PayPal don’t even mark the payment as late/missing.
I basically just get charged interest without having to make any payments because they don’t collect it.
You can already find interest free or very low interest credit agreements with a lot of stores for larger purchases. You also have interest free credit cards, which aren’t hard to get hold of.
Consumer credit is an extremely competitive market so I’m not sure where Monzo fit into it. They seem to be a cautious lender with relatively high interest so even if they offered it, it probably wouldn’t be your best option.
How so? I’ve used Paypal Credit with Argos loads of times? It’s pretty straighforward
Oh strange, definitely there, just tried it with a nest thermostat, didn’t complete the order but it was 100% there
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It’s new within the past couple of months, I’ve got a Argos card so just use that to be fair but did notice PayPal accepted an all
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Same, store credit isn’t something I’d use either. For me I just pay for stuff upfront (well, on an AMEX payed off monthly), if I needed to borrow for it (unlikely tbh) it would be the 0% credit card.
I’ve never used paypal credit but then I’ve never struggled to get hold of the 0% credit cards which I guess are the same deal in a way.
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Klarna wasn’t something I’d heard of but google use it for the pixel 5 with 0% interest.
No brainer really, since you can pay it of as needed… Normally I use things like 0% for big purchases where paying the lot at once would probably mean pushing it onto the credit card anyway.
Even if user charged no fees, Klarna still makes money, because they send the full amount to the merchant straight away and in return merchant pays Klarna a fee.
It’s similar to how businesses can sell their invoices that are not yet due for payment to receive cash quicker. It is common in B2B with like 30, 60, 90 days payment terms.
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